L & S Advisors Inc Cuts Stake in Visa Inc. (NYSE:V)

L & S Advisors Inc reduced its stake in Visa Inc. (NYSE:V - Free Report) by 45.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,517 shares of the credit-card processor's stock after selling 12,788 shares during the quarter. L & S Advisors Inc's holdings in Visa were worth $4,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of V. Brio Consultants LLC grew its holdings in shares of Visa by 39.1% in the fourth quarter. Brio Consultants LLC now owns 1,555 shares of the credit-card processor's stock worth $405,000 after purchasing an additional 437 shares during the last quarter. Gilbert & Cook Inc. grew its holdings in shares of Visa by 2.9% in the fourth quarter. Gilbert & Cook Inc. now owns 5,629 shares of the credit-card processor's stock worth $1,466,000 after purchasing an additional 158 shares during the last quarter. Aveo Capital Partners LLC grew its holdings in shares of Visa by 9.2% in the fourth quarter. Aveo Capital Partners LLC now owns 2,802 shares of the credit-card processor's stock worth $730,000 after purchasing an additional 235 shares during the last quarter. 9258 Wealth Management LLC grew its holdings in shares of Visa by 20.8% in the fourth quarter. 9258 Wealth Management LLC now owns 8,043 shares of the credit-card processor's stock worth $2,094,000 after purchasing an additional 1,387 shares during the last quarter. Finally, Gryphon Financial Partners LLC grew its holdings in shares of Visa by 53.8% in the fourth quarter. Gryphon Financial Partners LLC now owns 13,640 shares of the credit-card processor's stock worth $3,282,000 after purchasing an additional 4,774 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.19% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on V. Evercore ISI cut their target price on shares of Visa from $335.00 to $330.00 and set an "outperform" rating on the stock in a report on Tuesday, June 25th. Bank of America boosted their price objective on shares of Visa from $279.00 to $308.00 and gave the company a "neutral" rating in a research report on Tuesday. Jefferies Financial Group reduced their price objective on shares of Visa from $325.00 to $300.00 and set a "buy" rating on the stock in a research report on Wednesday, July 24th. BNP Paribas raised shares of Visa from a "neutral" rating to an "outperform" rating and set a $325.00 target price on the stock in a research report on Tuesday, September 3rd. Finally, William Blair raised shares of Visa to a "strong-buy" rating in a research report on Tuesday, July 23rd. Six investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Visa currently has a consensus rating of "Moderate Buy" and an average price target of $310.22.

Visa Price Performance

V traded up $1.13 during trading on Tuesday, reaching $291.61. 5,135,742 shares of the company traded hands, compared to its average volume of 7,077,878. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $293.07. The firm has a fifty day simple moving average of $269.30 and a 200 day simple moving average of $273.27. The company has a market cap of $533.34 billion, a P/E ratio of 32.58, a PEG ratio of 2.01 and a beta of 0.96.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $2.42. The business had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company's revenue was up 9.6% on a year-over-year basis. During the same period last year, the firm posted $2.16 EPS. On average, equities analysts forecast that Visa Inc. will post 9.92 EPS for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.71%. Visa's dividend payout ratio is currently 23.24%.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.